GAPS IN REGULATION WORLDWIDE COULD ALLOW MONEY LAUNDERING THROUGH CRYPTO
June 27th, 2022
Gaps in the international regulation of cryptocurrency and virtual asset service providers (VASPs) could aid money laundering, even in countries where these financial instruments are highly regulated, according to United States President Joe Biden. He warned in a March 9 Executive Order (1) on ensuring the responsible development of crypto assets that there was a need for international cooperation on crypto regulation if the US were to control its virtual currency-linked ML risks. “Inadequate AML/CFT regulation, supervision, and enforcement by other countries ...
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